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Lalithaa Jewellery Mart Limited, a prominent jewellery retailer based in Tamil Nadu, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The company aims to raise ₹1,700 Crore through an initial public offering (IPO)
The IPO will comprise both a fresh issue of ₹1,200 Crores and an offer for sale (OFS) worth ₹500 Crores. The company intends to list its shares on both NSE and BSE, with shares being offered at a face value of ₹5 each.
The funds raised from the IPO will primarily be used for capital expenditure, including the establishment of 12 new stores across India. Additionally, a portion of the funds will be allocated for general corporate purposes.
Founded in 1985, Lalithaa Jewellery Mart Ltd. has grown to become one of the leading jewellery brands in Tamil Nadu, specialising in gold, silver, and diamond jewellery. The company currently operates 56 stores across 47 cities in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Puducherry.
A CRISIL Report reveals that Lalithaa Jewellery Mart achieved the highest operating revenue per store among major organised jewellery brands in India from Fiscal years 2022 to 2024.
Lalithaa Jewellery Mart's upcoming IPO reflects the company's ambition to expand its presence in the Indian jewellery market. With solid financial growth and an extensive store network, the IPO offers an opportunity for investors to participate in the growth of a key player in the jewellery industry. However, investors should monitor the final price band and consult with their financial advisors before making any decisions.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
Economic Times: https://m.economictimes.com/markets/ipos/fpos/chennai-based-lalithaa-jewellery-mart-files-drhp-for-rs-1700-crore-ipo-to-fuel-southern-expansion/articleshow/121721701.cms
MSN: https://www.msn.com/en-in/money/topstories/lalithaa-jewellery-mart-files-drhp-with-sebi-to-launch-rs-1-700-crore-ipo-check-details/ar-AA1Gl9nF?ocid=finance-verthp-feeds
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Posted on 18 Aug
Geetanjali Lachke
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